Send money to Swaziland from London? Swaziland, is a sovereign state in Southern Africa and thanks to the internet, you can find easy ways of transferring money to this country. We shall go in-depth on how that happens, plus any other related information.
Best ways to make a money transfer to Swaziland?
When you consider about sending money from your country to Swaziland, your first instincts might be going to the bank but the average fees charged by these banks for international money transfers are expensive. Currently, there are other options for transferring money without using banking services.
Types of options to send money to Swaziland?
If you use an online site, just enter the amount you want to send, choose a currency, payment and delivery method.
You may send cash but this can be complicated. The recipient of the check may also have to pay a fee for cashing it and cover the exchange rate to have the funds exchanged into the local currency.
Restrictions on receiving or sending money to Swaziland.
There are no limitations on the inflow or outflow of funds for remittances. Swaziland handles three types of international currencies: the U.S Dollar, the Euro and the Sterling Pound.
If a resident of the country requires a foreign currency, this person must apply through an authorized dealer to obtain foreign currency. Swaziland is a member of Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), the assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT) measures in the country was conducted by ESAAMLG.
Process of sending money to Swaziland
You can use online sites that offer easy ways to send or receive money through currency converters. Just choose the service that suits you best and create an account to begin the transfer process.
These services have a currency converter that calculates the exact amount of lilangeni you can transfer or receive. You can enter the amount of money in your currency and the service will indicate the equivalent in lilangeni.
Brief economic trend.
With a GDP per capita of $3,000, Swaziland is a lower middle-income country. The Lilangeni is pegged at par with the South African rand and the exchange rates depend on the monetary policy of South Africa.
Transfer from Swaziland to UK Main bank.
The only banks authorized to provide you the international transfers service are those designated by the government and authorized dealers in Swaziland are the First National Bank of Swaziland (FNB), Nedbank, Standard Bank, and Swazi Bank.
Don't wait for the banks in Swaziland?
Anyone who has used a bank to transfer money to Swaziland will know that it can be five days before their recipient can access their money. If a family member is having a financial crisis this is usually far too long for them to wait. So instead of waiting for the banks to process the transaction why not arrange an online currency transfer to Swaziland today?
Find out the currency rate in Swaziland?
At the time of your transfer you will be asked which currency you wish to send. When you are arranging a money transfer to Swaziland you will need to send the Lilangeni (SZL) to your recipient. The South African rand is also accepted in Swaziland so if you already live in South Africa you will not have to find out the currency rate Swaziland money is being exchanged for. However if you are living outside of South Africa you should do this prior to transferring your money.
Send your money to Swaziland?
When the time comes to send your money you will find that setting up a currency transfer to Swaziland is very easy. When you do this through an online exchange broker all of the stress is taken out of the process for you. Just log into your online account and set up the transfer using just a few clicks.
You can then sit back and relax in the knowledge that in a matter of moments of your recipient will have their money and you will have completed a safe transaction.